A long and winding road to a better place for members

The competitive forces shaping mergers in the superannuation industry aren’t necessarily focused on quality, but rather, on the blunt metric of scale. Whether that’s good for members or not is debatable, but what’s not in question is that complex and often protracted transactions – such as the merger of TelstraSuper and Equip Super recently announced – need to be managed adroitly to get the best out of them, for everyone concerned.

Higher rates, central bank divergence set to lift volatility

A higher interest rate environment, increasing divergence among major central banks, and geopolitical uncertainty are some of the major risks that global top asset owners and managers are bracing for in coming years, the Fiduciary Investors Symposium at Stanford University has heard.

Super sector’s dirty little secret of pension minimums

The revelation that superannuation funds are preventing low-balance members from accessing an account-based pension raises ethical alarm bells. The widespread practice places a potential handbrake on the poorest Australians entering pension phase and arguably threatens the grand bargain with the Australian public on compulsory super.

Low-balance super members denied access to account-based pensions

A little-known administrative hurdle is prohibiting tens of thousands of poorer Australians from accessing the tax-free account-based pensions, as most super funds have placed a minimum balance requirement – as much as $50,000 at funds including AustralianSuper and HESTA – on retirees to apply for an ABP. Super Consumers Australia’s Katrina Ellis suggested the ‘outrageous’ practice may be illegal.

$4 trillion super pool key to surviving big economic shifts: Treasurer

Treasurer Jim Chalmers says superannuation savings can and should play a role in supplying capital to megatrends that will reshape Australia’s economy and fiscal position. The comments come in an exclusive foreword to the first edition of Retirement Magazine, the new sister publication to Investment Magazine.